Weak Nonfarm Payroll Data for March Leads to Hopes of Fed Interest Rate Raise Delay
April 7, 2015 7:55 am
Asian stocks rose on Tuesday, following a positive lead from Wall Street, while the Dollar held onto its gains after rebounding against the Euro and Yen on higher U.S. Treasury yields. U.S. stocks rose on Monday as expectations the Federal Reserve could hold off longer on raising U.S. interest rates offset concerns over Friday’s surprisingly weak monthly jobs report. The Dow closed 117 points higher at 17,880, the S&P500 rose 13 points to close at 2,080.
The Euro inched up 0.1% to $1.0936, after climbing down from an overnight high of $1.1036. The Dollar was steady at 119.60 Yen after bouncing from a low of 118.80 on Monday. The Aussie was up 1.3% at $0.7686, pulling away from the six-year low of $0.7534 plumbed last week. Australian shares rose more than 1% earlier on easing hopes but were last up 0.4%.
U.S. crude was down 0.8% at $51.70 a barrel after rallying 6% on Monday. Brent shed 0.6% to $57.48 a barrel following its 5.7% jump. Meanwhile, gold retreated from a seven-week top as the Dollar rebounded; spot gold was flat at $1,213.80 an ounce after hitting the seven-week peak of $1,1224.10 on Monday.
Asian stocks rose on Tuesday, following a positive lead from Wall Street, while the Dollar held onto its gains after rebounding against the Euro and Yen on higher U.S. Treasury yields. U.S. stocks rose on Monday as expectations the Federal Reserve could hold off longer on raising U.S. interest rates offset concerns over Friday’s surprisingly weak monthly jobs report. The Dow closed 117 points higher at 17,880, the S&P500 rose 13 points to close at 2,080.
The Euro inched up 0.1% to $1.0936, after climbing down from an overnight high of $1.1036. The Dollar was steady at 119.60 Yen after bouncing from a low of 118.80 on Monday. The Aussie was up 1.3% at $0.7686, pulling away from the six-year low of $0.7534 plumbed last week. Australian shares rose more than 1% earlier on easing hopes but were last up 0.4%.
U.S. crude was down 0.8% at $51.70 a barrel after rallying 6% on Monday. Brent shed 0.6% to $57.48 a barrel following its 5.7% jump. Meanwhile, gold retreated from a seven-week top as the Dollar rebounded; spot gold was flat at $1,213.80 an ounce after hitting the seven-week peak of $1,1224.10 on Monday.
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